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Paying for College: A High School Student’s Quest to Stay Debt-Free

This is a guest post from Chase Miller, a high school student from Orange County, California. He loves to surf, travel, Tweet, and catalog life through photography.

“Where are you going to college?”

“What are you going to major in?”

“What kind of career do you want?”

As senior year flies by like a speeding car, there are certain questions I have been asked countless times by friends, family members, and coworkers. These questions are probably the same for every high school senior — what’s next? What do I want to do with my life?

Intimidating price tags on a college education
Now this isn’t a bad thing, in fact I think it’s rather positive. Deciding on what you will do after high school is part of growing up and setting a course. But with the average cost of attending a private university in the U.S. at a staggering $28,500 per year, not including room and board, the goal of attending a four-year college without debt seems unattainable to most people.

What’s even more discouraging is that with these price increases, many are going to community college. Classes are now overcrowded and difficult to enroll in.

My plan for a debt-free education
I have always had a goal of staying debt-free through college, which is why I had a formula since entering high school. Below are some things I have done to cut the cost of college for myself. They are easy steps other students can replicate no matter where they live.

The first thing I did was to take college classes when I was in junior high. They were all online, and I did them in addition to my regular junior high classes. Back then I took them to prove to myself that I could do it, but now I realize how beneficial they were. When I graduate high school this spring, I will have 32 college credits, which equals a full year of college. What’s amazing is that these credits didn’t cost me a dime, as junior high and high school students can take college courses for free in California. Talk about a money saver — this will allow me to graduate an entire year early!

I plan to go straight to a four-year university, but with a few sacrifices. Having the college experience of living in the dorms and making lifelong friends is something I have always wanted to experience, so I plan to make cuts in other areas. My plan is to go to a local four-year university and only live on campus the first year. The second and third year I will live at home and commute to classes and school activities. This will allow me to make friends and experience living in a dorm for the first year. I’ve estimated that doing this will save more than $20,000 in room and board expenses for those three years.

While in college, I will be without a car. While this will be a difficult adjustment, in reality a car is not a necessity, and I can always get a ride from a friend and use public transportation to get to class when I’m not living on campus. I should save approximately $24,000 by living without a car.

My total savings from taking these three steps comes to an estimated $81,000. Not everyone can or should follow my exact plan, but when you get motivated and creative I think most anyone can find a way to get a college degree without taking out student loans.

April’s note: Chase’s guest post submission caught my eye because he’s in high school and he’s actively planning his financial future. That’s impressive — I wish I had started at his age! I also want to stress that Chase, and any other financially savvy high school kids who are reading GRS in their leisure time, need to apply for scholarships. One of our readers shared how she was able to attend George Washington University and pay just $4,000 out-of-pocket for a $160,000 education.

You are going to go a long way Chase, your forward planning is certainly going to help you in life. Definitely look at other ways to fund your fees, like relevant scholarships. Use that determination you already have and apply for anything you can, if you end up successful then it will be the icing on the cake.

I have to say, it is refreshing to see a kid of your age take such initiative and responsbility in thinking about your finances. Most kids your age would not consider what you’ve considered and likely spend it on booze, clubs, and women.

The most important decision you will make is your major. Please pick a major that will translate into a high-demand, high-paying job that you enjoy.

I took a similar path and am a millionaire in terms of net worth at age 34.

From working on a college campus, I can guarantee you that this guy is very atypical. This type of early preparation and planning generally DOES NOT HAPPEN. Hats off to you, sir, because I think you will find your transition into college MUCH easier than the average college freshman!

Nice job! I think those are good tips, and another would be not going to one of those fancy private schools you cited in your statistics. I also made it though undergrad without debt. I went to public school and then got my master’s at a fancy private school with a famous name. MUCH cheaper to pay for only two years of that and much easier to pay for a lot of it with scholarships and fellowships.

One thing I will say is that I think it can be harmful for students to be all-or-nothing about debt. I absolutely refused to take on any debt in undergrad and missed out on some valuable experiences because of it. For example, I would loved to have traveled abroad and it would have ended up being very valuable to me in my career. In hindsight I can see that borrowing $10-20k would not have been that huge of a deal.

Good point! I also got through undergrad without any debt but I wish I had done a couple of things differently — like taken the extra semester to get a double major or a semester abroad or even a two week intensive course in a foreign country. In my mind, I had those trips lumped in with luxuries like spring break vacations, and they aren’t the same thing at all.

This – my mom still thinks the $6K summer humanities program I did in St. Petersburg (and which she helped fund) was a waste of time and money, but I can say without hesitation that I was the happiest I’ve ever been that summer. I was going to a small, nearly rural college at the time, and being forced to use my Russian and experience the culture firsthand were invaluable. I ended up going back to work there for a while after I graduated.

A good thing to note re: study abroad: it CAN seem like a luxury, and is if you don’t make the best use of your time in a foreign country. I went out to bars with the friends I made on the program, but I also took advantage of the discounts offered to students for performances every chance I got. (And I’m talking CHEAP – the program pre-paid for many historical tours, museum visits, and opera, orchestra, and ballet performances, but I paid a whopping $4 out of pocket for a student ticket to see Wagner at the Mariinsky one night. In the U.S., unless your city’s performing art companies have really good deals for the teens and 20s, you’re not going to be able to take advantage of NEARLY as many performances as you would in Europe.)

I wish I had looked into a junior year abroad program, but I was on financial aid and I incorrectly assumed my aid wouldn’t cover going abroad for a semester or two. It turns out I was wrong – some schools will help subsidize the costs for you. A friend I met after college had gone to an expensive private university on financial aid, but he still able to spend a semester in Australia because he was able to get financial aid for it.

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Sharonsays:

15 February 2012 at 9:13 pm

If it has been fewer than 10 years since you graduated, you can take those courses now and still get your double major.

Yes, THIS. Don’t get in a situation where you are working so hard that you don’t learn, take an easier major, or get lower grades. A few thousand dollars in (subsidized low-interest) debt to avoid having to work full-time at low wages can pay off in higher wages and more flexibility after graduation.

Not to say that you will get in that situation, but many many students at our state school do. It is a false economy. Don’t forget that the purpose of college is to get an education (and skills that will help you later), not just a degree.

Why get into government-subsidized non-dischargeable debt (bankruptcy won’t spare you it) to engage in bumming around the planet?

I’ve done my bit of backpacking and never needed to get student loans. The world is full of young people who are traveling and working their way around the planet.

You can pick bananas in an Israeli kibbutz, you can teach English in Korea, you can do agricultural work in Italy, and since you’re a photographer you can even sell your photographs– look at it as a business opportunity, not as a way to take on debt (debt sucks!!!).

Hell, since you’re going to graduate in just 3 years and without debt, why not use your 4th year to take a sabbatical and have a lot of fun without burdening yourself or others. No employer will hold it against you– get your kicks while you’re young and avoid a mid-life crisis. And paying your own way will teach you more about … *everything* than pretty much anything else you can learn anywhere.

You can also even do the Peace Corps which I understand offers a lot of advantages, you just need to be 18 to join.

If you’re going just on financial consideration, Peace Corps wastes a TON more money than doing study abroad! You already have your degree and you give up 2.25 years of income. At least with study abroad you get college credit, and would have been a full time student and not working anyway.

Obviously study abroad is different than backpacking is different than Peace Corps. You are learning different things and having different experiences.

I intend on traveling more over the next break, but I’ve learned a very important lesson in all this. Traveling is very, very expensive, and for someone to not have their travel income supplemented by some sort of benefactor – mine being my insanely generous grandparents – it would be impossible to really go much of anywhere.

yes, studying abroad is a luxury for people of means, as the first article says. but traveling, when you’re young, doesn’t need to be expensive. if you want to get out of america and see the world, all you need is a plane ticket and a strong back. really. no need to spend a fortune and make your parents (or your future self) pay for it.

Who said anything about partying? You’re making a lot of assumptions. The reason I would have needed to borrow money was simply because I couldn’t have worked at my 24-hours-a-week day job while studying abroad, which was how I was paying my bills.

Saying it’s a bad idea for anyone to do study abroad is just as stupid as saying everyone must do study abroad.

Besides, I think you’re missing my point that some things are worth borrowing money for. For me, it would have been study abroad. I had never left my home state at the time and every job I’ve had for the past 10 years has required me to speak Spanish. (My studies were anthropology/linguistics with a focus on Latin American language and culture) If I remember right, the program cost around $5k. I’ve traveled extensively on my own and not only could I never fund a 3 month trip for that price, I’d have to quit my job so it’s never going to happen.

For someone else, it might be something else worth borrowing money for (say, taking physics from an excellent university professor rather than online through a community college.)

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El Nerdosays:

15 February 2012 at 11:15 am

“Marked for moderation” for posting a link to the Peace Corps? Cmon April, please get me out of the doghouse.

If I knew how to highlight excellent comments they way J.D. does, I’d do that to Sarah’s post. My big regret is not studying abroad during college. I had a lot of reasons why I didn’t do it, but none of them are very compelling anymore. I’m not one for regrets, but I do wish I had gone for it.

Perhaps a really fancy private school should be out of the question for most trying to avoid debt, but private schools are not necessarily bad. My husband and I both went to private schools for undergrad and public schools for our graduate degrees (3 between the two of us). We noticed that almost everyone at our private school graduated in 4 years, and no one stayed after 5. The school made sure everyone finished. But at a public school? We both TA’d during our degrees, and a significant portion of our students were there for 5 or more years. To me, the very best stat to pay attention to is time to graduation. It’s not worth saving some money each year if you have to spend an extra year getting your degree.

Many private schools offer great scholarships and good possibilities. Don’t write those off. It does not hurt to apply and see what schools have to offer in terms of financial aid.

What a great plan! I took many college classes while in high school and that helped me shave a lot of dollars off the college bill. I also worked full-time the entire time and lived cheaply. I rented a cheap house throughout school but but a house and that effected me being able to pay off tuition completely.

However, right now I have around $33,000 in debt but that is for 2 undergraduate degrees and I will be completing my MBA in the summer.

Taking community college classes during the summer breaks are great as well!

Many states have free college classes for HS kids. In my state (WA), I was able to attend the local community college full time during my junior and senior year. When I graduated from High School, I literally graduated from from college with a 2 year degree 3 days later. Even my books were free, because I qualified for the reduced lunch program. I was able to transfer to a 4 year University as a junior directly out of HS. Not only did this save a whole ton of money, because I went to a very small HS, going to Community College much more adequately prepared me for going to University.

Great plan! I can’t believe you’re able to take college classes while in High School. I’m in Canada and haven’t heard of anything similar here. Something like that would have really appealed to me and might have pushed me into a post-secondary education.. High school was really boring!

I apologize if this is a repeat comment — GRS has been very buggy for me lately! I’m trying to reply to Marianne #5 above.

I think the closest thing we have in Canada is AP courses — but when I was teaching, most universities weren’t accepting them as credit for first year university courses. (I’m not sure if that’s changed though.)

It’s important to remember that “college” means something different in the U.S. Here, universities don’t always accept college courses on a part with university courses. (One of my classmates found his year of college was only worth half a year’s worth of credits, for example, and the university only accepted them at all because of that college’s high standing.)

I don’t know if it’s possible to take college or university courses in high school — when I was teaching, a high school diploma or mature student status was a prerequisite for most schools. Still, I think this would definitely be worth looking in to — you never know!

I am from Quebec and we have something that is a hybrid of the last two years of high school in most other provinces and community college, it is called CEGEP (Centre d’études générales et professionnelles) The best thing about it? It was (and still is) free! I took a number of university-level courses which saved me a whole semester so my B.Sc. was only 2.5 years instead of 3.

Yes usually “college” and “university” are often used interchangeably in the US at least casually. “college” is general term for any post secondary school. It can be 2 year or 4 year schools.

I think formally “college” is supposed to be the name of an institution that has liberal arts undergraduate training and “university” is a school with both undergrad and graduate studies. But I don’t know if thats what everyone agrees and you’ll hear people using the words to mean the same thing.

Wow! I’m impressed this poster is so forward thinking and has a solid plan for paying for an expensive education.

I was glad to see April chime in with applying for scholarships, but I was surprised no one mentioned part time work. From the time I was old enough to baby sit, a good portion of my earnings went into savings bonds for my education (yeah, interest rates were a lot better back then!) Even though I couldn’t work part time during the school year, summer jobs were a boon!

I don’t know if it’s the same in the U.S., but some Canadian universities offer co-op programs that involve work in one’s field — the bring in cash but they also provide much needed work experience and networking.

Some U.S. universities have official co-op programs where there is a structured system where you rotate between working and school for specified periods. For example you might work 6 months then study 6 months and take 5 years to graduate or something like that. Those programs aren’t everywhere.

If there isnt a coop program at the school then you can always look for internships on your own. I worked a 9 month internship and it was both well paying, great work experience, and a foot in the door that got me my current job.

very nice. I never considered the price tag in the least. Wish I had been nearly as smart as you Chase.

I hope you have already checked to see whether your credits will be accepted at the school you have chosen. My school refused to waive some courses in which I had taken the AP exam (and done well). But looking back, I see the decision makers weren’t necessarily on my side.

Even though it was over a decade ago, I too graduated high school with 32 credits from AP classes and college classes I had taken during high school (night classes). To my surprise, most of them were not counted toward the distribution requirements for my major (they only counted as general electives). I was still able to graduate college a full year early, but I also had to be careful about which courses I took, and how they would be counted toward my major.

I’m still amazed I graduated college a year early and without debt, but I paid a heavy price in terms of workload and burnout (working 35 hours a week in part time jobs, in addition to 17 credit hours per semester).

My one piece of advice: listen to all of the advice, but don’t be afraid to make your own decisions. I was advised to study abroad, join clubs, and do unpaid research, but none of that interested me. Instead, I found opportunities that were more in line with my future career. No regrets.

I did take out massive loans for graduate school, but it was an investment. I had the option to go to graduate school debt free (full ride scholarship!), but not all graduate schools provide the same opportunities (geographic, personal, career). Financial freedom is one thing, but if you aren’t pursuing your dreams, then you aren’t really free.

Great job thinking ahead. I was able to graduate a semester early from college, producing quite a savings, because of a combination of taking a heavy course load (at my university you paid the same tuition whether you take 12 credits or 18, most of the time I took 17 and 18 credits), a college class in high school and one summer course at my university. It was hard work, but well worth it for the financial savings. Another great tip on getting enrolled in classes before they fill up (and thus not overly extending your stay), is being willing to take the time slots no one wants. I can tell you that at my university the early morning, late night and Friday afternoon classes were the easiest to get into since no one wanted them. But I was willing to deal with the hassle and therefore get all my classes in a timely manner instead of having to delay to a later semester.

This is great! Just a couple nights ago my husband and I talked about how much we would need to save per month just to cover our kids’ room and board (I plan to follow my parents’ plan: we kids had to cover our own tuition and fun money and they would cover our rent and groceries). I sure hope I can teach my kids to plan ahead like you! Good luck with everything!

There are a few other options to not overlook to save on school costs (full disclosure – this is when I went to a State school for undergrad from 1997 – 2001):

1. Become a Resident Assistant. At the school I went to they paid for my own room and my mealplan (and I got to register for classes early!) I made lifelong friends and had something for my resume too!

2. Become a Student Senator. At the school I went to they paid for my books each semester and I learned about the legislative process, how to run meetings and how to interact with folks from different backgrounds.

3. Live off campus in a group house (if you don’t want to live with your parents or if that is just not an option) and puchase a scooter (I didn’t do this then but wish I did!) I currently live in a big ciy and commute daily by scooter (I bought it two years ago in the dead middle of winter for $1400, it’s a Honda Met). It’s a little cold sometimes, but parking is never a problem, it gets 100 miles per gallon and best of all – no car payment. When I need a car I rent one via priceline or use zipcar!

4. Last suggestion is STUDY ABROAD! I studied in England for a semester when I went to school and the international department actually gave me a grant which decreased the amount of money I was paying per semester!!

Good for you Chase! I do think nearly everyone can graduate college with very little or even no debt. People who say it can’t be done generally aren’t willing to make the compromises necessary.

If I were in your shoes, Chase, I’m not sure I’d be willing to go the no car route once I moved back home for the last two years of school. To me, having the flexibility of a car would be worth a little debt – particularly when I consider the additional income I could generate by being generally more available to work. Public transportation is a real time eater.

Very impressive! I believe you should make college work for you, and you are well on your way to making that happen. College, for me, was one of the most life-changing experiences – not in terms of pure earning power or knowledge but in how I saw myself and personal growth. I hope everyone has a similar moment, in college or not. And I hope to have many more!

The one point I would quibble on is the “savings” point. Not having a car isn’t really saving on the cost of college. Transportation costs are something to consider in the overall cost of college, yes, but considering an extra cost and then deciding not to take it on is not really a savings. Then again, maybe in California a car is more assumed or necessary! Similarly, living at home still incurs costs to someone and should be calculated.

You’ve clearly done the math and have worked it out. I just wanted to point out that others might not come to the same calculation based on their own circumstances. Also, non-monetary considerations (will I maintain sanity living at home after having the freedom of dorm life?)might change your perspective – as will growing up. Embrace these revelations and see where they take you. You’ve got a good framework, but don’t let it cage you once it’s done its job. Changing your plan, within your values, is not failure.

Nice, this is a great starting point for discussion. Most americans, especially women and other minorities, won’t be able to afford to take college classes in junior high or high school (and as a professor that teaches them, I’m not sure if 90% of the students that do take them, should). That said, what is it about this student that made his situation possible? Lets find out and replicate it? Was it his family income? His early school education? Personal drive, aka, he worked his ass off? Probably all of them. Now lets repeat this for graduate school… why was I able to obtain $400,000 in funding (see my post on it)? (and why do I still have loans to pay off?). This was one of the best posts I have read — it is personal, presents a common problem a possible outcome (though an outlier) , and got the brain moving. Great job Chase. I want you in my course.

We’re talking minors here, which means their parents generally have to pay or they get some kind of grant. Girls and minorities are exactly the types to be provided such grants. Then if the parents are paying then girls from willing to pay families are potentially just as likely to be paid for as are boys. Classes at a community college, or even a local state univerity are easily within the cost of a large portion of american families (say $1000 – $2000 a class, so 32 credits is 8-10 classes, 2 classes a year for five or six years is $2000-$4000 dollars a year could be done by a large number of families). So it isn’t just the top 1% who can afford this if they choose.

It depends on the family, their emphasis on educaton, and the opportunities available where they live.

Yeah, I was also confused by that comment. I’m not sure what gender would have to do with it since it would be the parents paying and its about 50% chance their kid would be female. As far as costs go I know every state/school district is different, but generally AP classes are taught in the high school (free) and then the test to actually get the credit costs $87 (some schools pay for or subsidize this, you can also get a fee reduction directly from the college board if you have financial need). Also my high school would pay for you to take classes at the local community college if you had exhausted all options in that subject offered by the high school.

Oh heavens, I opened a can of worms before finishing my first cup of coffee. Chase is an outlier — heck, he is already being read by one of the most popular blogs in the US. Chase, write a book and tell your story!

That said, yes, I did not realize that all junior high and high school students can take college courses for free in California. Thats incredible! and I wish every state did that!

My comments on women and minorities were in recognition that most minorities, especially women from minorities, come from economically humble backgrounds, and paying $4000 a semester or year, plus books, is extremely challenging. Consider, for example, that according to the Pew Research Center (a respected research center), “median wealth of white households is 20 times that of black households and 18 times that of Hispanic households.” Gender confounds the discussion, but generally speaking, in minority households, women and girls tend to carry a high burden of home duties such as cleaning and working (making school difficult). Heck, if this were a rural area going to CC would be even more difficult for a lower family income. ….

Now lets not all get upset with talk of socio-economic status, ethnicity and gender. Instead, lets let the author of the comment know they s/he should finish the first cup of coffee before commenting in a post.

Chase, you are a fantastic student and are already making us discuss the world around us. Go change the world for the better!

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Allysonsays:

15 February 2012 at 10:53 am

Why would junior high or high school girls be poorer than their male counterparts? In some other countries, perhaps, the male children might be more favored and the parents might not expect/want the girls to have higher education, therefore they wouldn’t fund the AP or college classes. If your comment was intended to be regarding US junior and high schools, perhaps you don’t realize that women are actually graduating college at a higher percentage than men?

One more tip would be to look at summer school and stay in school year-round. Usually you can get about a semester’s worth of coursework out of the way in summer school, so if you go for the two summers between three regular school years, it’s like going for four years. Summer school courses are usually cheaper, and they’re also usually a lot shorter (which is nice if you can get unpleasant-but-necessary classes out of the way – I took six credit hours of art history in under five weeks, for instance). Also, you save by not having to basically move two extra times a year at the beginning and end of the summer. I did this at the state school I attended in the late 1990s and got my degree in three years instead of four. Good luck!

Chase,
Here’s some additional help, if you like
1. Get some credits from community college near your area.Could save few grand here
2. Don’t buy new books, rather buy books from upper classmen and sell it once the year gets over. you can save atleast a grand doing this. your books would be virtually free this way.
3. In that first year, cook your own food. I like your motto of experiencing dorm life. Go for it, you’ll learn cooking as well.
4. Agree with April, get a scholarships, 100s of scholarships go unapplied every year because student do not know about them. Apply for scholarships furiously.
5. This is optional, try to get a job in the campus and learn customer management. Extra money comes as a side benefit.

I was an English major, so this is a little specific. But many times my professors insisted that we buy the edition they specified. I would borrow a completely different copy from the public library, and I got along just fine.

These are good tips and a couple things to keep in mind, I’m out of college five years now:

I found a car absolutely unnecessary, never needed it. Secondly, I did the opposite, I lived off campus the first year. I’m glad I did. I think it kept me out of the drinking scene (which also uses a lot of money) and I was able to find friends more similar to me by joining a lot of clubs. I also worked for Residential Life, so the next three years I was an RA which not only paid for my room and board, but gave me a scholarship and other opportunities for extra pay. Finally, don’t be afraid to look into Private Universities. The best offer I got financially at public Universities were $3000 scholarships for 12,000 a year tuition, room & Board, etc. At the private Jesuit school I ended up going to, I got 25,000 for a 30,0000 year tuition, room and board, and by the last few years, I was actually making a bit of a profit going to school.

My only advice would be to take your education seriously (but it seems like you already do). But seriously, good grades and lots of student involvement are what’s going to make your resume for your career. Study what you’re interested in, and be passionate enough to stand out in your degree. Too many students just go to college for the sake of going, or pursue a degree in a field they heard makes money but that they don’t care for, and this usually ends badly.

Secondly, a lot of numbers how much a college degree is actually worth are way out of line. “What the teenager needs to know is … the net present value of his own expected earnings if he does or does not go to college.”

College classes in junior high? I have a junior high student in my household – While he is a 3.5 GPA honor roll, bright student I don’t know that he could handle a college level class. This intrigues me that it was available to you at that age… Did your junior high school principle and/or teachers set you up with these classes?

I took some college classes in middle school as well as in high school. It’s not that big a deal, especially since community colleges often have fantastic teaching staff. My first boyfriend actually got his associates degree the same time he graduated from high school, but he worked incredibly hard.

How to say this nicely… I took some community college classes as a kid. They were VERY easy. I agree with the poster who said to be careful that you’re getting the education you want.

For example I took AP Biology, Calculus, Physics, English. I still have a good understanding of all these things.

I took history, government, and Spanish at community college while I was in high school. I got college credit for them but when I got to college I realized that a real college history/government/Spanish class is MUCH harder, and more interesting too.

I think that this is great – I know that I took a college course the summer between 8th grade and freshman year of high school and I know that my high school had different partnerships with the nearby colleges/universities that allowed us to get more college credit so I was able to graduate in 3 years..

What stands out to me is how my 3 year old son’s preschool tuition just got upped to $23,500 for next year which is college tuition!

I think it is great that he is already thinking about his financial future. I wish him the best of remaining debt free. If only all young people could think like that.

One thing I want to point out is some colleges, scholarships and state aid programs no longer consider you a first time entering student after you gain a certain number of credits. My daughter had to pick one of her AP classes recently to not receive credit in, or she would have had too many credits to be an entering freshman. Had she had too many credits, we would stand to lose 17,000 in scholarships/funding.

So I recommend looking at the aid programs you will be applying to and the college admissions office as well as scholarship info to see if that is the case where you live or plan to school.

A great help in debt free college is dual-enrollment if it is available. You can basically combine 2 years of high school and 2 years of college to graduate from high school with an additional associates degree.

Isn’t GRS beta testing a new forum to compile articles and advice by topic? If so they should have one for educational costs, since its one of the top costs for most families and this article should go in there as well as some past ones.

It’s important to remember, Chase, that even if you don’t succeed 100% at your plan (there are very few times in life when that happens), the mere fact that you’re THINKING about it this context places you far ahead of your peers. Congratulations on planning such a wonderful start to your adult life.

Like others above, I also want to encourage you to study abroad. The experience is unlike anything else, and it really doesn’t have to be that expensive. My parents contributed the same amount that semester that they did every semester, and I made up the difference through scholarships and my own earnings while I was out of school. My sister’s biggest regret about college is that she was more focused on when she would graduate than taking the time to explore another culture. For the mature person you seem to be, you’d get a lot out of that experience.

Like other posters, I think it’s great that you are planning so far ahead! While I definitely applaud you wanting to graduate debt free, keep in mind that it’s ok to invest in yourself. I went into quite a bit of debt to go to a fairly expensive private school for college, but was able to pay it off within a few years with the job that I got thanks to that education (not saying you can’t get a great job with a public school, this was just my experience). You’re clearly very forward thinking, so I don’t think it’ll be an issue, but don’t be penny wise and pound foolish. Debt is not always a bad thing, as long as it’s a debt that you can handle and that will have a return for you.

On the practical side, two pieces of advice for saving money:
1) Try your local Rotary club for scholarships. They have a ton of money, but no one ever applies. There are so many scholarships out there, don’t deny yourself before you know if someone else might fund it. 10-15 hours on a great scholarship application could save you $25,000.
2) If you do end up needing to take out loans, I’d avoid the government student loan programs (at least for amounts that require the non- “subsidized” loans). Interest rates for some were (at least a few years ago) as high as 8%. Many started accumulating that interest as soon as you started school. Look into other loans that might give you a better deal.

Hey Marlene,
I took a wide variety of courses from English to Math. I have found that online classes are easier for me especially since you don’t have to sit in class etc. But you do have to be motivated to do the work.

In Michigan, if your high school does not offer an advanced course, your school will pay for it for high school credit. In my case, I took Calculus 1, 2, Linear Algebra, and Differential Equations. BUT, if you want those classes to count for college/university credit, then you would have to pay for them (sometimes you can only transfer in so many credits).

I also went on a Study Abroad to Norway. I found out that they had a program set up where my tuition was the same price, I paid my native school, and they worked it out for me (I think this was a Bilateral exchange). My financial aid also counted. At the time I had a hard time setting this all up since the Study Abroad department was going through major changes and nobody knew what the heck was going on. So, just ask lots of questions and figure everything out far enough in advance. I did end up spending a lot more money than I budgeted in Norway, but I don’t regret it and just take it as a lesson learned.

I was impressed with Chase’s planning. Thought I’d throw out a few ideas that may or may not apply to him but are useful for those looking to cut down on college costs.

1.) Look at some private schools that have large endowments (Ivy League and others)–many of these schools can provide substanially more aid (and a lower net cost) than schools with a lower sticker price. I had a friend who earned a scholarship from UPenn. I think she only paid $4K/year for 4 years.

2.) Look at less prestigious schools (I know, opposite of suggestion 1). These schools often offer fantastic scholarship offers to good students. My sister was offered a $20K/year scholarship to Oklahoma State in 1998 (she declined). A boy I dated was on a full ride (tuition, books, housing, food, subsidy) to Wright State, despite being more than qualified to attend Ohio State because the money was better at Wright State.

3.) If you play sports, and are interested in playing in college, contact the coach of schools you’re interested in. Even if you’re not D1 or D2 material, many D3 schools can arrange for applicable academic and financial aid for athletes they want to have play for them. Had I not taken option 4 below, this is what I would have done. I was lucky enough to be D1 material, but I had friends who went the D3 route.

4.) Consider the military. Whether its a service academy, ROTC scholarship, or enlisting and using your GI Bill, there’s a lot of options for those who are interested in getting their degree for free/dirt cheap. I’ll be the first person to say its not for everyone. However, I went the service academy route and it worked out well for me. I got free tuition, room, board, and got paid to be there. Upon graduation, I was guaranteed a job paying ~$50K/year (tax equivalent).

I did see one thing that gave me pause in Chase’s plan that I haven’t seen mentioned yet… his plan to live in the dorms for a year, then move back in with his parents. I think its great that he’s moving out–you learn so much living on your own. However, I think once you’ve had that freedom, it will be extremely hard to move back in with mom and dad… and mom and dad’s rules. I love my parents to death and love to see them when possible. We have such a wonderful relationship BECAUSE I don’t live with them lol. Chase might find that he should consider alternate housing arrangements after his year in the dorms. He might be able to be an RA or live off-campus in an apartment with some friends.

Chase you are doing a great job planning for your future, it will make a big difference. I suggest you set some goals for a number of scholarships to apply to over the summer. A few essays can be reused for several applications, so applying for a large number of scholarships will be a lot less work than it would seem. If you took your guest post and added reasons for why you want to get through college debt free I think it would make a great scholarship essay. As a scholarship can be thousands of dollars for a few hours of filling out applications it could be very worthwhile.

Great job starting your college financial planning so early. I didn’t graduate debt-free, but I did manage to attend a top-ranked private liberal arts college for the same cost as my friends who went to a public university.

One tip: If you plan to stay in SoCal and commute every day to school via public transportation, I strongly urge you to try out your planned public transportation route at least once or twice beforehand. I lived on campus all 4 years so I didn’t need a car, but if I had lived at home, I probably would have missed half my classes. My college was 40 minutes from my parents’ house by car, but taking the bus takes TWO HOURS. And yes, that’s EACH WAY. Simply put, the LA public transportation system sucks, and I don’t imagine the OC system being that much better. So depending on where you live in relation to your future college of choice, you may spend a significant amount of time each day in traffic. I encourage you to try out your proposed route via public transportation at least once or twice to get a feel for how long it will take, and then consider what it would be like to do that every day.

Hitching a ride from a buddy can work, especially if your college is not a residential college. However, as someone who regularly carpools to work now, this arrangement can get tiresome for the driver if you don’t have your own car and aren’t able to reciprocate by driving every once in a while. You may have to at least pitch in for gas. Otherwise, you start becoming a moocher.

My advice is to get a job during high school and save up for an old beater car (~$2,000 cash) that will get you from home to school safely. Drive that car until it dies. Hopefully by then you’ll have graduated debt-free and be fully employed.

I agree with the above, especially in regards to transportation. I have a friend who lived at home her first year of college and commuted to school in Chicago because she wanted to save money and live at home.

It took her well over an hour, one-way, on a *good day* to take public transportation; when the weather was bad, she’d have to leave even earlier and spent so much time at the library or local coffee shops in between classes that she got a dorm room the next year.

Absolutely. We live in a MAJOR metropolitan area, in the suburbs. Next year our son will be commuting to a local university that is 15 miles away. There is NO public transportation that could get him there in under 3 hours one way. Since neither me or his Dad want to drive him each day, we’re looking for an inexpensive used car for him. One nice thing is that he put off getting his drivers license until he turned 18 (he’s just not into driving that much), which saved us nearly a couple thousand $$ in insurance over the past two years.

When I was applying to colleges, my parents went through a thick book of scholarships (in the days before the internet), and picked out every one I could possibly qualify for, and made me apply for all of them. Lots of essays (though I could repurpose several of them) and lots of postage later, I’d gotten:
1. Full tuition, room & board, plus $2500/yr stipend, to Washington University in St. Louis.
2. A Westinghouse family scholarship (not the Westinghouse scholarship, which would be very impressive indeed, but my father was working for Westinghouse at the time), which was $1500/yr, if I remember correctly.
3. Several smaller scholarships, totaling several thousand dollars.

I got a fantastic education (in computer science), and made money in the process. Summer internships in computer science make good money, too, so my summers were lucrative and in fun places like Boston and San Francisco.

Don’t take too much stock in the college credits you have already earned without looking into what courses you will have to take to graduate with your specific major. I entered college with 24 credits earned in high school, but it turned out with my major and its required electives I really only used about 12 credits, the rest were superfluous on my transcript. Obviously, this greatly depends on your chosen major and the credits you earned, so YMMV. However, I would not assume that entering with 32 credits automatically means that you will graduate a year early without knowing exactly what courses you will need to graduate.

I agree with others that consider traveling abroad, even if it means a little college debt. You college years are the time meant for this, so as long as you are not taking out exorbitant student loans, it is worth it. You want to save money, also consider just taking a semester off and traveling cheaply for awhile. I did that and stayed in Southern Africa, but I had family there so I could do a lot of it relatively cheaply. But if you wanted to, you could take a semester off, work a lot for a few months and then travel for awhile. It would be well worth the experience.
Regardless, well done with your planning so far, and good luck!

Really good point, I entered college with 48 credits (all classes were 4 credits), but since I was doing a rigorous engineering program with lots of specific required classes and prerequisites I couldn’t graduate a year early. However it did allow me some breathing room at least, as the only way to complete the program in 4 years anyway was to be overloaded on credits most semesters and at least it got me out of all the general requirements. It was still a good move financially since it allowed me some more time in my schedule to work and study.

I went to a state university, lived in the dorm for 3 years, then moved into a house off-campus. Didn’t have a car until my last year, otherwise rode my bike, walked or carpooled with my roomies to work (we all worked together).

My father suggested taking some classes in the summer before starting full-time in the fall, so I took all my freshman English classes then. It was a nice way to get acclimated, and I didn’t have to carry that textbook around that screamed ‘freshman’ to all.

Didn’t work my freshman year so I could get into the routine of college (for better or worse). After that worked at the performing arts center-sports arena facilities. Nice thing about that job was the chance to work over breaks, when most others were gone.

Did my internship with an agency that hired, so at graduation I was the only one in my major with a job in hand. Internship –> graduation –> real job. Worked out pretty well, and this was the late 70s when job world wasn’t so hot.

Well, I applaud you. You seem very determined and I’m sure you will succeed.

I’m probably the polar opposite of you. I have wasted so much money on school and I’m still a year away from graduating. I think having a very high drive to succeed is an incredible asset to have when you are in school. If you don’t want to be there right now, then take the time off as opposed to floating around, reducing your course load, etc.

Also, I’ve done a bit of research on this, and yes, in Canada it is possible to get some university credit for AP Classes, but I believe you had to get a very high grade in the AP class and you need to check with the university you are applying to. Often they won’t allow more than 5 courses’ worth or 15 credits.

As for going to college and then transfering to university, in Canada it really doesn’t advantage you because although college IS cheaper, when you transfer to university they usually cut your credits in half. So let’s say you got a two year diploma in accounting, well, when you apply to university you will get no more than 30 credits regardless. So if you add up tuition for two years of college it pretty much equals 1 year of university, and you are one year ahead.

My tips would be:
-to get a part-time job on campus because they are usually very accomodating with exams and things like that.
-Get used textbooks.
-Cook your own food, school meal plans are outrageously overpriced and the food sucks.
-Be careful when choosing roommates; find some with similar attitudes towards money. Otherwise you’ll have to pay half of an enormous electric bill and cable bill because they spend whatever they want and you have to ‘split everything down the middle’.
-Don’t get too much ‘stuff: movies, books, furniture, crap in general’. You’ll waste a ton of money and curse yourself every time you move.
-Don’t follow all the fashion trends.
-Don’t go out every single weekend.
-If you are far away from home, be careful of the amount of money you are spending on traveling back and forth between home and school.
-If you are the kind of person who’ll get homesick often, pick a school that’s less than 1-2 hour away tops.
-Study hard; nothing is more expensive than failing a class or droping it before the drop date because you are about to fail.

Great job, very impressed with this writer, like all the other commenters. Three things:

1) Don’t go back home after the first year. I lived on campus all years, and it was a total blast. It’s the late night Trivial Pursuit games, or snowball fights after dinner, or just general bonding experiences that will happen after classes end that truly help make the “college experience.” As Matt Damon’s character said in Good Will Hunting, he got the same book education as Harvard grads for a pittance in terms of public library late fees. But it’s the stuff that goes on after class that makes college truly worthwhile.

2) Study abroad. There are additional scholarships just to study abroad, even if you don’t qualify based on “need.”

3) Don’t choose the closest in-state school just because it’s closest. Choose the one that has the programs that interest you, and/or the most prestigious. As I said in #1, I believe in living on-campus (or with a group of students off-campus to replicate that “college” experiene) which you don’t get with a commuter school, or if you’re commuting. For California I would imagine UC-Berkeley or UCLA would be tops which would give you more options after graduation if you wanted to leave the state, but it’s whatever works best for you. But don’t limit yourself to the “cheapest” option. Your in-state schools should all be comparably priced, and saving an extra $2000 over the course of 4 years really won’t be worth it in the end.

I wish I’d had the option of taking college courses online during junior high/high school … “online” didn’t even exist then.

I wager that Chase will change his stance on the no-car bit. It’s hard to fully experience college without your own transportation at least some of the time … like when you have a special date, or an out-of-town concert or game to attend. He may want to consider at least renting a car here and there, and add that to the budget plan.

Also consider swapping your semesters. Everyone seems to assume that you’re supposed to take classes from mid-August to mid-May and work during the summers, but that’s not necessarily the best option. That gives you about 13 weeks to work and 39 in classes.

Especially in a system like the UCs, I’m sure you could take all basic requirements and probably most of your base-level major requirements during summer terms, which are shorter but still let you take a full course load. If you took classes from mid-January to mid-August (many schools actually only go to mid-July), you’d have 22 weeks to work and 30 in classes (or 26 and 26!).

You also won’t have the same level of competition for jobs for a fall-semester full-time internship, so you’re more likely to get one in your field for slightly higher pay. An extra 9 weeks even at minimum wage would be an extra $2,600, but if you factor in even one extra dollar an hour over what you would have made working a summer job, you’re looking at almost an extra $9,000. Over the three years it looks like it’s going to take you to get through, that’s $27,000!

And especially in southern California, it isn’t like the weather is going to be much different in the fall than in the summer!

Indiana University just started offering a 25% discount on all summer coursework, so for people who live here, the savings are even more dramatic!

You’ve already challenged assumptions like “you have to wait until you finish high school to get college credit”. Don’t stop there. Keep challenging what people assume about college and you can save a TON of money!

I am currently finishing up college. I have worked full time since I was 17, which obviously helped me pay for a lot of my college tuition. I also switched jobs about 1.5 years ago due to the fact that my current employer provides tuition reimbursement. It has been a great help. I am hoping to move on to my masters, which they also help with. Good luck to you!

I took college courses in high school and although it didn’t save me a whole year as it did for you, I was able to graduate on time.

We actually had no choice with dorm-living since my university was so crowded with students that they kicked us out of the dorms after the first two years! And while I didn’t commute from home, I found a very affordable apartment and split the rent with two other roommates.

I also went car-less those two years in the dorm and survived! Considering that I went to school in a city that isn’t public transportation-friendly, that says a lot!

Like April mentioned, you should look into tons of scholarships and financial aid. I relied on both to pay for college and they have saved me the burden of carrying debt post-graduation.

Great to see a high school student actively planning their financial future!
I got through undergrad and a two year master’s with no debt.
I applied only to undergrad programs that offered a co-op component and to a MPH program with a practicum component. Finishing 7 years of schooling with amazing work experience, no debt, and a job lined up? Not so bad Also, applying to scholarships earned me upwards of $30,000. It can almost be like a full-time job but it can pay off big time!

I also wanted to mention…I didn’t do a ton of travelling during school although I did afford a trip to Europe with a friend halfway through undergrad and went on some other smaller trips…travelling wasn’t my priority. But my sister is a much bigger traveller and she did the same as me in terms of collecting scholarships and working through her school’s co-op program but she also chose to work abroad for one of her co-op terms in Singapore and also travelled all around there, so it’s def possible to live it up and still graduate debt free.
I have a friend who took a year off half way through school because he ran out of money. He took a very well paying job that he actually moved away for. He worked like crazy for that year and then was able to continue school without having to take on debt. Gotta figure out how each option works for you.

I’m very lucky in that I have zero debt from college — I did community college and transferred to a local state college for my undergraduate. Then, I got my master’s for free because my employer offered tuition reimbursement as a benefit.

Besides the obvious of applying for scholarships (be sure to apply for those in your college/department and those provided by non-profits and professional associations), be sure to find other ways to save money in college.

For example, I worked for the student paper and got a faculty/staff parking permit — which is/was huge because trolling for parking in crowded student lots and garages is a huge time suck (the job was also relevant to my career). I also worked for the college bookstore during rush, so I got a significant discount on my books each semester (I paid around cost if I remember correctly).

Also, take advantage of everything your college offers, especially relevant extracurricular, networking and professional development opportunities. I was very involved as a student and the contacts and experience from that time lead me to the job I have now.

I paid for college completely on my own. I entered with only a $1000 scholarship and had no clue how I was going to pay for it. So I sought a job on campus (big, big help!!) through work study. This job eventually turned into my first “real” job after I earned my degree since I proved my worth. The company hired me on full time, promoted me, and increased my salary by 60%.

Second was I got involved in my student government. BEST thing I have ever done. Not only did I learn how to network with all the wonderful people from all over the campus, I was exposed to different scholarship opportunities that I would never have known about. I applied for every scholarship my department offered, every year! A lot of students don’t put forth the extra effort to apply to your departments scholarships, big mistake! Out of the nine I applied to one year, I won my five largest! It totaled $12,000 cash and a full years tuition reimbursement. Smartest decision ever.

Third, I donated plasma for extra cash. I made up to $200 a month (pretty sweet) and since all you do is sit there, I was able to study and earn money at the same time.

In the end, I only paid $6000 out of pocket for my $25000 degree (only tuition and fees, does not include books). I graduated Magna Cum Laude, with $10,000 in the bank!

If you want to be awarded departmental scholarships, get involved in your student government, the department or college student advisory committee, and GET TO KNOW YOUR PROFESSORS. You can’t get letters of recommendation without your professors support, and many times they are on the scholarship committees (bonus, especially if they know you are a hard worker)

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